MassMutual Private Wealth & Trust FSB Sells 899 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MassMutual Private Wealth & Trust FSB lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,475 shares of the company’s stock after selling 899 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in L3Harris Technologies were worth $13,348,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in L3Harris Technologies by 261.5% in the second quarter. Intech Investment Management LLC now owns 13,834 shares of the company’s stock worth $3,107,000 after purchasing an additional 10,007 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of L3Harris Technologies by 3.5% during the 2nd quarter. Brighton Jones LLC now owns 1,616 shares of the company’s stock worth $363,000 after acquiring an additional 55 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of L3Harris Technologies by 23.8% during the 2nd quarter. Ieq Capital LLC now owns 13,308 shares of the company’s stock valued at $2,989,000 after acquiring an additional 2,560 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in L3Harris Technologies by 47.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,494 shares of the company’s stock worth $1,908,000 after purchasing an additional 2,728 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in L3Harris Technologies by 22.6% during the second quarter. Benjamin Edwards Inc. now owns 1,585 shares of the company’s stock worth $356,000 after purchasing an additional 292 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $218.22 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $227.28 and a 200 day moving average price of $233.03. The firm has a market capitalization of $41.39 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 7,889 shares of company stock valued at $1,800,572 in the last ninety days. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LHX shares. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.19.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.